View more on these topics

Govt pledges long-term care funding reforms ‘before March Budget’

The Government is promising proposals on long-term care funding “shortly” and before the Budget, set for March 20.

Earl Howe

Speaking in the House of Lords this week, health minister Earl Howe said the Government is currently writing laws to implement the Dilnot Commission’s proposals.

Andrew Dilnot proposed a cap of £35,000 on care cost, excluding accommodation costs, but the Government is reported to be looking at a £75,000 cap.

Questions remain over what level the cap will be set at and when the rules will come into force.

Howe said: “The prime minister and deputy prime minister have committed to announcing further details before the Budget to cap the potentially enormous costs of long-term care.

“The Government has agreed with the principles set out in the Dilnot Commission and we expect further details shortly.”

He also revealed the Government has begun drafting clauses for the draft care and support bill, currently in pre-legislative scrutiny, that will implement Dilnot.

Labour Baroness Jill Pitkearthley blasted the “unacceptable” uncertainty around the Government’s proposals.

She said: “It is the uncertainty that is the most difficult thing for vulnerable people and their families to cope with. They are uncertain about the services because of problems with local authority budgets and they are absolutely uncertain about what their financial liability will be.

“Saying the Government will accept the Dilnot proposals without saying when or what level is only adding to that uncertainty in a most unacceptable way.”

But speaking to Money Marketing, Labour peer Lord David Lipsey says the proposals are expected “imminently” and it is a “tremendous victory”.

He says: “You can either look at the glass half full or half empty. It has taken a long time but almost miraculously, considering the mood music half way through, we are going to see a cap introduced. It is a tremendous victory.”


Montlake Andrew MS blog 150


As high-street brands like HMV, Jessops and Blockbuster go to the wall, it reminds us of the need to react to new trends

CUNA Mutual to launch loan protection product

CUNA Mutual has confirmed its intention to launch of a range of loan protection products, following the publication of FSA guidance on payment protection products yesterday.


OFT fines IPS Estate Agents £11,844

The Office of Fair Trading has fined Leicester-based IPS Estate Agents Limited £11,844 for failing to comply with anti-money laundering regulations.

MS 21Jan CoverBanner


Borrowers who meet a growing list of criteria can claim the big mortgage prizes while those with even a minor blip in their credit histories are rejected as lenders keep a firm grip on their money.

China tech and Global Alpha: a new great leap forward

By Robin Geffen, Fund Manager and CEO

Internet giant Alibaba is exactly the type of entrepreneurial company that the high-conviction, top-performing Neptune Global Alpha Fund seeks to invest in. Established just 14 years ago in an apartment in Hangzhou, today Alibaba is larger than Amazon and eBay put together and is challenging some of the most powerful internet companies in the world…

Read more 

Important information

Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Richard 24th January 2013 at 11:41 am

    Enormous expense no doubt to conclude the Dilnot report which said make the cap at £35K and what happens ? The cretins in government ignore it anyway. What was the point in having the report then ? As always the government are fudging the issue with no clarity at all.


Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now